Vail Resorts CEO is bullish on ski season

Snow is coming, ski conditions are "fantastic" and the outlook is bright for Vail Resorts, its CEO told CNBC Friday.

Ski season is kicking off at many resorts around the country this weekend. Vail, the largest publicly traded operator, will have five of its 11 resorts open, with its namesake having "one of the best openings we've had in a long time" Friday morning, CEO Rob Katz said.

He was equally enthusiastic about the rest of the season, noting Vail's season-pass business is up in the "double-digit territory." He thinks the stock market's performance should also provide an added boost.

"As the Dow continues to climb, we're looking for big spending from our higher income guests across the board. So we see that as a huge opportunity as we head into the season," Katz said in an interview with "Squawk on the Street."

He also sees big opportunity out West with Vail Resorts' recent acquisition of Park City Mountain Resort in Utah. The resort neighbors its Canyons property and when the two are combined, it will create 7,000 acres of ski terrain, making it the largest ski resort in the country.

While the combined park won't open until next season, skiers can use both mountains on the same ski pass and multi-day ticket this season.

"We are hearing tremendous enthusiasm from our guests," Katz said. "It's a big deal in the industry right now."

Another big deal is the 700,000 square feet of development space Vail Resorts gained in the deal.

"That was a critical piece. I think the base area of Park City is in need for an upgrade to bring it in line with the rest of the city of Park City, which is really fantastic. That is one of the key things we'll be focusing on," Katz said.